Apple iRadio to launch soon

A new report claims Apple is close to making a deal with two major record companies to stream their respective tracks on a purported “iRadio” music streamer.

The report by CNet claims that Apple’s much-rumoured music streaming service could become a reality within the next seven days. Sources close to the situation say that Apple is about to finalize a streaming deal with both Warner Music and Universal Music Group that would be more financially lucrative than the one that its closest rival, Pandora, currently enjoys with the same companies.

The article goes on to say that as has been widely reported, the service is expected to tie in seamlessly with Apple’s iTunes software and this in turn would provide users with a direct route to purchasing a track after listening to it. Apple is working hard to sign deals with other labels and with publishers and to agree to cross-border licensing deals as the company looks to launch the service this summer in the US and up to 12 other territories including the UK and Japan.

This all gives credence to reports that surfaced earlier this week claiming that Apple was planning a launch event for the end of April, where the next-generation iPad is expected to make its debut. It would also make sense for the company to use the same event to demonstrate its streaming service and create a buzz around it before its official launch some months later.

As the CNet report explains, despite Apple’s power within the digital music industry, no one is certain how users will respond to the service or if Apple’s plans to monetize it through advertising or in-app iTunes track purchase will actually work in reality.